On the evening of May 22, 2025, U.S. President Donald Trump hosted a highly publicized dinner for holders of the "Trump Coin" ($TRUMP) at his Trump National Golf Club in Sterling, Virginia. The dinner invited 220 investors who hold the most of this meme coin, aiming to solidify Trump's political influence in the cryptocurrency space. Before the dinner even began, a large number of protesters gathered outside, shouting "Our democracy is not for sale, shame!" expressing strong dissatisfaction with this "political crypto show."
Dinner Background: The Frenzy and Controversy of Trump Coin
This dinner marked the climax of Trump's push for the "Trump Coin" project. According to data from the crypto intelligence firm Inca Digital, the 220 invitees collectively invested about $148 million to qualify for entry by purchasing "Trump Coin." The dinner not only provided top holders the opportunity to dine with Trump, but the top 25 could also attend a "super exclusive VIP reception" and have a chance to tour the White House, with the top four receiving Trump-branded watches.
Since its launch on January 17, 2025, "Trump Coin" quickly became the focus of the crypto market, thanks to Trump's political aura and promotion on the social media platform "Truth Social." The coin's price surged 55% upon the announcement of the dinner, peaking at $16.42, but had fallen to $12.59 by May 12, with 764,000 wallets suffering losses from investing in the coin, while only 58 wallets achieved million-dollar-level profits. Data from Chainalysis shows that the Trump family holds 80% of the tokens through their company, generating nearly $100 million in transaction fees, raising concerns about potential conflicts of interest.
Attendees included billionaire Justin Sun (global advisor for HTX exchange), Australian crypto investor Kain Warwick, and representatives from Singapore's crypto company MemeCore. However, experts pointed out that several wallet addresses may be linked to foreign entities, raising concerns about potential conflicts between the Trump family's business interests and foreign powers.
Wave of Protests: The Clash of Democracy and Power
On the night of the dinner, hundreds of protesters gathered outside the Trump National Golf Club in Washington, D.C. They held up signs criticizing Trump for monetizing political influence through "Trump Coin." One protester told the media, "This is not a dinner; it's a power auction!" The protest was organized by multiple groups, including the Democratic-supporting group "Forward," with protesters viewing the dinner as a "blatant desecration" of American democracy.
Democratic lawmakers seized the opportunity to promote the "Stop TRUMP in Crypto Act," aimed at prohibiting public officials from participating in cryptocurrency projects to prevent conflicts of interest. Supporters of the bill argue that the Trump family's profits from "Trump Coin" blur the lines between politics and business, potentially undermining public trust in the government. Protesters also expressed dissatisfaction with Trump's recent policies, including his "expansion" remarks regarding Canada and Greenland, as well as his negative stance on aid to Ukraine.
In response, Trump stated that America is becoming the "global crypto capital," reiterating his pro-crypto policies during the dinner speech and criticizing the previous Biden administration's crackdown on the crypto industry. He emphasized that the U.S. will continue to maintain its leading position in Bitcoin and cryptocurrency. Protesters scoffed at this, calling his remarks empty slogans serving personal interests.
Market and Policy: Concerns Amidst the Crypto Craze
K33 analysts pointed out that two crypto-related executive orders issued by Trump on January 23 and March 6 have exceeded their execution deadlines, with no substantial progress made. The dinner and Vice President JD Vance's speech at the Bitcoin 2025 conference on May 28 have become focal points for the market, with investors hoping for more policy details.
International Perspective: Global Controversies
The protests were not limited to the U.S. American expatriates in Europe held simultaneous demonstrations in cities like London and Paris, opposing Trump's domestic and foreign policies. U.N. spokesperson Dujarric previously warned that Trump's tariff policies could trigger a trade war, impacting the global economy, while the controversy surrounding the "Trump Coin" dinner further intensified international scrutiny of his administration.
This article represents the author's personal views and does not reflect the stance or views of this platform. This article is for informational sharing only and does not constitute any investment advice to anyone.
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